When Times Are Tough, the Rich Should Flaunt

By

Robert Frank

Oct 28, 2008 11:56 am ET

Say what you will about the rich. They have provided excellent entertainment value in the past five years. As James Stewart says in “The Philadelphia Story,” “one of the prettiest sights in this pretty world is the privileged class enjoying its privileges.”

But now the wealthy are going underground. It isn’t just that they are losing some of their wealth. No, they are going quiet. They aren’t flinging the bling or living large. Joe Queenan, writing in Forbes, calls them the “Wallflower Wealthy” and says they are bad for America.